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2021 Could See First Decline in Home Prices in 9 Years

Posted To: MND NewsWire

Did the housing happy talk just get a little less so? CoreLogic’s Housing Price Index Forecast (HPI) over the May 2020 to May 2021 window is seeing more rapid price deceleration in the face of the COVID-19 situation than did their previous 12-month forecast t hat ended in April of next year. In its report last month CoreLogic said it expected that “the housing market may be equipped to lead the broader economy through the recovery” but that home prices increases would slow and that the gain from April to May would be only 0.3 percent. They went on to predict that 2021 would bring the first decline in nine years, and by April 2021 the national price gain would turn negative, down 1.3 percent. Today the company says that pent-up demand and tightening supply continued to prop up home prices in…(read more)

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